TUNISIAONLINENEWS - The listing of "Ennakl" shares was simultaneously launched on Tuesday in Tunis and Casablanca.
This launch took place in Casablanca in the presence of Mr. Mohamed Sakher El Materi, President of "Ennakl," together with the Mr. Karim Hajji General Manager of the Casablanca Stock Exchange.
A first of its kind in the Maghreb, the simultaneous launch of a brand on two stock exchanges met with great public success. The initial stock price for this simultaneous transaction was set at 10.700 Tunisian dinars and 64.22 Moroccan dirhams, respectaively.
"Ennakl Automobiles", a subsidiary of "Princess Holding Group" recently opened 40% of its capital and has introduced 30% of it at the Tunis Stock Exchange and 10% at the Casablanca Stock Exchange. As a result, "Ennakl" accounts today, 49,000 and 9,000 new shareholders in the Maghreb.
The demand for shares was oversubscribed 23 times in Tunisia, and 10 times in Morocco.
During a news conference held at the Casablanca Stock Exchange, Mr. El Materi said that the success of the first dual listing of a Tunisian company in the Maghreb area reinforces the integration process of Maghrebi financial markets.
The President of Attijariwafa Bank, Mr. Mohamed El Kettani, as well as Mr. Habib Ben Yahia, the Secretary General of the Arab Maghreb Union (AMU), also took part in the event.
© Tunisia Online News 2010
